Futures Trader Jobs: How to Trade for Others

If you wish to find futures trader jobs and start working as a broker, you will need to complete coursework and then pass an exam administered by FINRA, whether you want to be a registered securities broker, a salesperson or an agent. If you fail to register with the FINRA the result is that you will be slapped with some serious fines imposed by the SEC (United States Securities and Exchange Commission) whenever you try to sell securities.

FINRA Exam for Futures Trader Jobs

There are many different exams, depending on the type of securities you will be selling. However, to become a registered futures broker you will need to pass the Series 3: National Commodity Futures exam. While this exam is administered by the FINRA, it is the National Futures Associate (NFA) that requires it. This is the body that regulates the futures markets. Subjects included in this test are options and contracts, hedging, margins, rules of the NFA, futures theory and many more.

However, if you do not wish to limit yourself only to futures trader jobs, you can always apply for the Series 7: General Securities Representative certification. This is the most general of the FINRA tests and is considered to be the first one you need to pass. Those who pass this test can work with all securities products, from stocks and bonds, to options and variable contracts.

It is important to note that while the Series 7 exam is the most comprehensive of the lot, you will need a sponsoring broker. On the other hand, the school you sign up with for the coursework, whether online or in person, can usually help locate a sponsor if you do not already have one.

Professional Certifications for Brokers

The more professional certifications you have, the easier it will be to find futures trader jobs. However, before you decide which professional certification you should pursue, you need to understand what each one entails. The problem is that if you are just starting out and have no work experience there are some certifications you will not be able to pursue because they require a certain level of experience.

For example, CFS or Certified Fund Specialist certificates are issued by the Institute of Business and Finance and require no prior work experience. You will have to do around 60 hours of coursework though before you can take the exam.

On the other hand, a ChFC or Chartered Financial Consultant needs to have three years of full-time experience in either personal finance or insurance. Coursework is also required.

However, it is important to remember that professional certifications are not mandatory to be able to trade in securities. Most professional traders pursue these certifications in order to impress clients and show them that they have attained an incredibly high level of proficiency in their field. But if you are trying to land one of the futures trader jobs, professional certifications will make everything much easier.

If you want to apply for futures trader jobs, then you will have to become a registered broker. Therefore, you will have to pass the Series 3 exam at the very least, but should consider the Series 7 as well, in case you, or your employer, decide you need to expand into other securities as well.

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